Colver Technologies has signed a deal with a national oil company of Kyrgyzstan to build a small-scale GTL plant.
Gus Stuyvesant, Chief Operating Officer at China based Colver Technologies, announced today that the company has successfully completed negotiations and signed commercial terms for a contract that will, once approved by local stakeholders, see the small-scale GTL solutions provider construct a commercial GTL plant in Kyrgyzstan.
The Colver Technologies plant will be located in the Izbaskent oilfield adjacent to the Fergana Valley region of Kyrgyzstan and will convert natural gas produced as a byproduct of conventional drilling into regular gasoline and diesel. Tooling and deployment using the company’s modular systems is at advanced stages and it is envisaged that the plant will come online in 2016.
The news comes after a signing behind closed doors of a memorandum of understanding (MOU) with the national oil company of Kyrgyzstan in October 2014 for delivery of technology to generate additional revenue. This latest deal further cements the viability of Colver Technologies small-scale modular GTL reactor technology in terms of compatibility with conventional operations.
“This kind of deal is what we live for here at Colver Technologies” Gus Stuyvesant, the company’s Chief Operating Officer said, adding “this plant will help produce far more diesel and gasoline for local consumption by making use of natural gas that is typically burnt off into the atmosphere”.
The Kyrgyzstan installation will be seen as a showcase installation for Colver Technologies as the country’s fledgling industry grows in the years ahead. “We hope this will serve as a flagship model upon which governments in other countries can base similar developments aimed at improving domestic production to meet local demand,” added Stuyvesant.
About Colver Technologies
Colver Technologies’ modular GTL systems revolve around the Fischer-Tropsch reactor, a conversion technology developed in the 1920s by Franz Fischer and Hans Tropsche in Germany in 1925. It facilitates the production of significantly cleaner-burning liquid fuels like diesel and jet fuel from natural gas that contains no sulfur. We are committed to doing our part to drive uptake of GTL fuels as global efforts to reduce emissions increase and have invested heavily to ensure the continuing development of this highly attractive alternative to conventional energy production.
Contact Colver Technologies:
Longzhimeng Asia-Pacific Center
22 Pangjiang Street
Dadong, Shenyang, Liaoning
China
contact@colvertech.com
http://www.colvertech.com
862422599383